When Apple chose to host its own credit card, the idea seemed kind of strange. Why would a tech company partner with a bank to provide a credit card? Although unusual, the Apple Card does have its perks. Users say that it makes things simple, giving them the ability to see what they are spending easily in a user-friendly, Apple-designed interface.
The Apple Card also offers a 3% Daily Cash bonus on Apple products and on purchases from select retailers to spend on whatever the cardholder chooses. Customers love it, and Apple is undoubtedly making a profit on it.
So it only makes sense that one of Apple’s competitors would attempt to replicate that success with their very own card.
In an announcement surprising almost no one, Chinese tech conglomerate Huawei said on April 8th, during the P40 event, that it’s launching its own credit card.
Huawei partnered with UnionPay, China’s largest card payment organization, to create the program. The card, unceremoniously named “Huawei Card,” offers similar functions to the Apple Card. Users will get a physical card and a virtual card for their smartphone that works just like the Apple Card does in a secure enclave.
The card will be connected to Huawei Pay, the NFC-based payment program that’s already installed in most Huawei devices. Anyone who signs up will not have to pay annual fees for the first year. The company will also waive the annual fee for the second year if a certain threshold is spent by the cardholder in that first year, although the amount was not specified. Users will also receive travel benefits, special promotions and cash back rebates.
The Huawei Card is yet another entry in the consistent tale of Huawei copying Apple’s ideas and selling them off as their own.
In the past, Huawei made its version of the MacBook Pro, called the MagicBook Pro. There was also the Huawei MatePad Pro 5G, clearly a play on the iPad Pro, among other knockoffs.
No date has been specified for the card’s release to the public, or if it should be expected in the states.